Picton Mahoney Asset Management Acquires 220,000 Shares of Splunk Inc. (NASDAQ:SPLK)

Picton Mahoney Asset Management lifted its holdings in Splunk Inc. (NASDAQ:SPLK) by 157.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 360,000 shares of the software company’s stock after acquiring an additional 220,000 shares during the quarter. Splunk accounts for 1.5% of Picton Mahoney Asset Management’s holdings, making the stock its 4th biggest position. Picton Mahoney Asset Management owned approximately 0.21% of Splunk worth $54,847,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SPLK. Pacific Capital Wealth Advisors Inc. acquired a new stake in Splunk during the fourth quarter valued at $67,000. Charles Schwab Investment Management Inc. grew its position in Splunk by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 681,733 shares of the software company’s stock valued at $103,862,000 after buying an additional 23,239 shares during the period. BCK Capital Management LP grew its position in Splunk by 388.6% during the fourth quarter. BCK Capital Management LP now owns 46,416 shares of the software company’s stock valued at $7,071,000 after buying an additional 36,916 shares during the period. Lincoln National Corp grew its position in Splunk by 8.4% during the fourth quarter. Lincoln National Corp now owns 3,048 shares of the software company’s stock valued at $464,000 after buying an additional 237 shares during the period. Finally, Maryland State Retirement & Pension System grew its position in Splunk by 2.9% during the fourth quarter. Maryland State Retirement & Pension System now owns 12,099 shares of the software company’s stock valued at $1,843,000 after buying an additional 344 shares during the period. Institutional investors and hedge funds own 87.56% of the company’s stock.

Splunk Price Performance

Shares of SPLK stock remained flat at $156.90 during trading on Tuesday. 5,546 shares of the company were exchanged, compared to its average volume of 2,084,977. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 15.61. The firm has a market cap of $26.44 billion, a P/E ratio of 124.52, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00. The company has a fifty day simple moving average of $156.77 and a 200-day simple moving average of $153.51. Splunk Inc. has a 52-week low of $82.19 and a 52-week high of $156.97.

Splunk (NASDAQ:SPLK) last announced its quarterly earnings data on Tuesday, February 27th. The software company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $1.42. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Splunk had a net margin of 6.26% and a return on equity of 32,117.42%. On average, sell-side analysts anticipate that Splunk Inc. will post 1.62 EPS for the current fiscal year.

Analyst Ratings Changes

SPLK has been the topic of several research analyst reports. TheStreet upgraded shares of Splunk from a “c” rating to a “b” rating in a research report on Tuesday, February 27th. StockNews.com initiated coverage on shares of Splunk in a research report on Sunday. They issued a “buy” rating on the stock. Twenty-three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $135.31.

Splunk Profile

Splunk Inc, together with its subsidiaries, develops and markets cloud services and licensed software solutions in the United States and internationally. The company offers unified security and observability platform, including Splunk Security that helps security leaders fortify their organization's digital resilience by mitigating cyber risk and meeting compliance requirements; and Splunk Observability, which provides visibility across the full stack of infrastructure, applications, and the digital customer experience.